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PayPal soon allows Crypto withdrawal.

PayPal soon allows Crypto withdrawal.

Executive says that PayPal will soon allow customers to withdraw Crypto. In addition, the customers can also take it to the destination of choice.


Moreover, Jose Fernandez da Ponte says that they want to allow the customers to take the Crypto they acquired with them.


PayPal is a Global Payment Giant. According to PayPal’s blockchain lead, the firm allows its customers to withdraw cryptocurrency to a third-party wallet. He spoke to CoinDesk Consensus 2021 on Wednesday. However, he told the moderator Jeff John Roberts that a withdrawal function is in the works.


Currently, PayPal is not allowing its users to move cryptocurrency off-platform. However, it enabled them to buy Bitcoin and other cryptocurrencies since October 2020. However, Ponte added that they want to make it as soon as possible, and they also want to give their consumers something that will let them pay in any way they want to.

Not clear

He also added that they want consumers to bring their Crypto to them to use in commerce. In addition, he said that the company ships new development every two months on average though it is not clear when the withdrawal function is coming.

PayPal coin

Rumors are saying that PayPal is planning to launch its stable coin. However, Ponte was more downbeat and told that this is way too early.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.